Typically, currently installed underground storage tanks are fitted with a locking cap and hasp mechanism. Such a hasp mechanism may be fitted with a padlock. Such type of locking arrangement is vulnerable to a variety of attack methods, including, but not limited to, bolt cutters, pry bars, lock picking, physical manipulation of ill fitting caps, unscrewing of the locked cap assembly from the tank standpipe nipple, and other methods. In the case especially of petroleum products, there is a particularly need to prevent theft of the tank contents as the cost/value of such products continues to rise.
While various implementations of underground tank locks have been developed, no design has emerged that generally encompasses all of the desired characteristics as hereafter presented in accordance with the present technology.